RBA can go for another rate cut as they suggested and even though on daily time frame we have a ascending channel but its more like a corrective structure.
If we look at weekly, we can see the descending channel, unless price breaks above we should be on our way to print another lower low on weekly and reach the flash crash level .67500 or lower
If we look at weekly, we can see the descending channel, unless price breaks above we should be on our way to print another lower low on weekly and reach the flash crash level .67500 or lower
Note
TP hit , flash crash levels reached and going beyond, just like what we expected a rate cut was declared. We would look for longs later as the trade war thing is contained or when fed signals another rate cut . For the time being i am taking profit as a short squeeze is due
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.